The COVID pandemic and its aftermath: missed opportunities for avoiding a future of Authoritarian Neoliberalism

Mark Setterfield ()
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Mark Setterfield: Department of Economics, New School For Social Research, USA

No 2510, Working Papers from New School for Social Research, Department of Economics

Abstract: Neoliberalism can be characterized as an exhausted but entrenched growth regime that requires fundamental institutional transformation to create the conditions for inclusive and sustainable growth. But will existing political leadership rise to the challenge of implementing this transition? Experience during and immediately after the COVID- 19 pandemic does not give cause for optimism. First, the pandemic itself could have served as a timely reminder of the need for socialized responses to shared sources of uncertainty. Second, the post-pandemic 'inflation' could have served as a timely reminder of the importance of distributive justice as a component of macroeconomic performance. The argument advanced is that both of these opportunities were missed, demonstrating a paucity of vision and leadership among center-left parties at a critical juncture for liberal democracy.

Keywords: COVID pandemic; inflation; Taylor moment; Authoritarian Neoliberalism; Social Capitalism (search for similar items in EconPapers)
JEL-codes: B52 E02 E31 E66 P16 P51 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2025-07
New Economics Papers: this item is included in nep-pke
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